The daily transaction volume in the Ripple network is approaching record levels

Over the past few days, the number of transactions in the Ripple network has more than doubled and is approaching the record highs of 2017 – about 1.7 million transactions per day.

According to
BitInfoCharts portal, today XRP accounts for over 50% of all cryptocurrency transactions. The second place is broadcast, the third place is shared by bitcoin and bitcoin.

The last time the number of transactions in the Ripple network was at comparable levels was observed in late 2017 – early 2018.

Just eight days ago, on October 21, the number of transactions in the Ripple network was only 730,000. Today this value has more than doubled – up to 1.6 million. At present, the true reasons for this phenomenon are unknown, but this will surely serve as a basis for speculation, especially amid Ripple’s next month’s Swell conference. Another likely reason is partnership
Ripple with the Moneygram payment service, which may now be exploring new ways to use XRP.

Most likely, something significant is happening behind the scenes as cryptocurrency is about to break its record of 1.7 million daily transactions.

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At the time of publication, XRP is trading at 30 cents, over the past 30 days its price has increased by 25% compared to the rest of the altcoin market.

In October, Ripple, a San Francisco-based company, announced its entry into the Blockchain Association, membership of which will bring the company into contact with many regulators and lobbyists working in the cryptocurrency space. The Association is a non-profit organization that consists of supporters of blockchain technology and contributes to its implementation around the world.